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The title high probability trading catches out buyers, probability analysis are not discussed .It paints a rosy picture of theoretical knowledge; sadly it lacks any inputs on trend failure rates. Many readers are likely to be convinced it all works, in practice it does not. It probably works 50 % of the time, so probabilities are not discussed at all.
It does not give any insight or prepare the trader for trend failures, all trends fail eventually.80 % of trading is psychology, and only 20 % is the content of the book. If you follow the opinions in the book, 50 % of the trades may fail, and without 80 % psychology total disaster may await the believer of some writer's opinions. Oscillators/Indicators are useless and lagging, the book does not discuss this aspect which will lead to failures.
Marcel Link offers trading education on his site, and probably does not trade for a living, and makes his money from writing books and trading education. You can all do a probability calculation on this.
In the gold rush, the people who made money sold shovels and spades. In the trading gold rush, people who write books and offer counseling make money, traders don’t. This sums it up.
The book does not come up with a solid system which can stand the test of time. |
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Good book on how Marcel Link makes his living trading. He used to own a brokerage firm and provides interesting insights into things his customers did wrong.
He is very "day trading" oriented. Not a bad thing, but some of his examples and suggestions apply a little less directly to those of us who hold positions from days to weeks.
I don't think there is anything revolutionary in the book but he re-affirms concepts like the importance of money management, which makes it a worthwhile read. |
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